Basic HTML Version
191
FINANCIAL STATEMENTS, MANAGEMENT AND CORPORATE GOVERNANCE REPORT.
2011
TREASURY SHARES
At 31 December 2011, the Company held 6,419,259 of its own shares, representing 1, 58% of share capital post capital
increases.
MEDIASET ESPAÑA SHARE PRICE PERFORMANCE
Mediaset España Comunicación’s share price struggled in 2011, as did the IBEX 35 Spanish blue chip index in which it
is a constituent, slumping 46.4%, making it the index’s second worst performer in the year.The shares reached a high of
EUR 9.96 of 9 February and a low of EUR 3.76 on 24 November. Average daily trading volume for the year was high, at
2,922,482 shares, equivalent to EUR 18,185,860.
Total trading volume was EUR 4,640.9 million, 11.9% lower than in 2010.
Within the IBEX35, Mediaset España ranked 28th at the end of 2011 by market cap and 24th by trading volume.
In the Media sector, Mediaset España Comunicación ranked first at year-end 2011 in Spain by market cap EUR 1,794
million) and four th in Europe, behind ITV (EUR 3,180 million), ProSieben (EUR 3,089 million) and Mediaset S.p.A (EUR
2,528 million).
CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY
Good practice in corporate governance means establishing rules, principles and incentives at companies that help
safeguard the interests of the company and its shareholders, and guarantee greater transparency in management.
The main measures adopted by Mediaset España Comunicación in the field of corporate governance since 2006 are as
follows:
Amendments of the rules governing the organisation and operation of the main management bodies. Specifically,
amendments have been made to 9 ar ticles of the Company’s bylaws, 4 ar ticles in its General Shareholders’ Meeting
regulations and 18 ar ticles in the Regulations of the Board of Directors. In addition, the Company drafted an Internal
Code of Conduct for Mediaset España Comunicación, S.A and its Group of Companies governing their activities on the
stock markets.
Revision of the composition of the Board of Directors and the board committees to increase the percentage of
independent directors, meanwhile, the Audit and Compliance Committee and the Appointments and Remuneration
Committee are chaired by independent directors.
Increase in the number of women directors, reflecting the network’s commitment to gender equality.
Continued detailed information on remuneration paid to directors in the Company’s annual financial statements, as well
as in the Annual Corporate Governance Repor t and the Report on the Directors’ Remuneration Policy.
Verification of the Corporate Governance Repor t and the Corporate Responsibility Repor t by an independent auditor
(PricewaterhouseCoopers).
Mediaset España Comunicación’s effor ts in 2011 were acknowledged by Observatorio de Responsabilidad Social
Corporativa, a Spanish corporate social responsibility organisation, which rated it top among IBEX-35 companies in a